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Melon (MLN)
Basics * Founded in 2016, Melonport AG is building Melon, a blockchain software for asset management. * Melonport is the private company building the open-source Melon Protocol. The Melon protocol is a blockchain protocol for digital asset management built on the Ethereum platform. It enables participants to set up, manage and invest in digital asset management strategies in an open, competitive and decentralised manner. Token * "Our usage token is called Melon token MLN and is a core component of the Melon project. It is designed to enjoy a “usage right” to the Melon protocol. To use the Melon protocol one has to use MLN token. This “usage fee” will most likely be imposed on trading." * From their website (as of 1-2020): "The MLN token model is unique for an Ethereum-based protocol token because it creates a direct link between the usage of the protocol and the value of the token. Here, we will explain how this is the case. The MLN token is used as “asset management gas”. The asset management gas is collected on three functions in the protocol: setting-up a fund; investing in a fund and; claiming any fees (rewards). Notably, the protocol does not charge fees on trading or redemptions in order to keep barriers to entry low. The asset management gas paid on a specific function is calculated by using the number of Ethereum gas units consumed in that function multiplied by the asset management gas price. The fees are collected in ETH and transferred to the Melon Engine Smart-Contract which then purchases MLN tokens at a premium and burns them. Crucially, this buy and burn model directly links the usage of the network to the value of the token. Another aspect of the token model is that the protocol inflates by a fixed amount of 300,600 MLN tokens per year. This inflation pool can be used to fund future maintenance and development.The Melon Council DAO (see below) can decide to allocate these tokens towards developer talent if they deem the overall value of their proposal to outweigh the dilution effect. Otherwise, the Melon Council DAO can burn the un-spent tokens at the end of the year. Importantly, this model was designed to look after MLN token-holders and future maintainers and developers once Melonport AG was dissolved. Users are represented through the Melon Council. More information on our token can be found in the Melonomics series 1,2 and 3 blog posts with Melonomics 2 being the most crucial one to understand. In summary though, the essential point to grasp is that the MLN token model directly links the usage of the Melon network to the value of the token." Tech * Integrated CryptoCompare & Oraclize * Using the 0x protocol * Got help from Parity * From this "deep dive" (24-6-2019) it intends to bring; # "Decentralized infrastructure: Melon works through a completely decentralized framework. All the data of the client, for example, smart contracts, assets, and records are saved on a decentralized blockchain network. It does not just offer unwavering quality for the capacity of data yet, in addition, lessens the risk of custody. # Decentralized execution: The convention likewise offers a decentralized type of execution through the Ethereum Virtual Machine (EVM). Smart contracts are circulated over various Ethereum systems to give better productivity and security to the assets. # Blockchain coding: MLN’s one of a kind blockchain coding makes it a secure token for exchanges. It evacuates the danger of fake tokens and gives better security against extortion. # Evacuates third parties: Clients can set aside both time and money for putting resources into a support stock investment. Also, there is no necessity of a third-party endorsement from an attorney or guide." The front end of Melon works on the IPFS framework, which further uses a portion of the more interesting technologies which are as of now part of the general blockchain ecosystem. The back end of the Melon protocol has its very own domain chain, which is associated with Polkadot. Managers select from a customizable set of smart-contracts on Ethereum, which empower them to set up a technology-operated-and-regulated investment fund (TROIF) which mirrors a customary one. The distinction — automation of guidelines and procedures which tie the manager by means of smart contract by secure blockchain technology administration. Hence investors have the possibility to invest in TROIFs without expecting to put their trust in the manager’s promise, controllers, or central parties to guarantee the security of their assets. The guidelines of the reserve are clear for everybody to see. With Melon, to set up a fund should be possible by spending roughly $25 paid to the Ethereum network." Governance * From the website (as of 1-2020): "As planned, after delivering v1.0 of the Melon protocol in February 2019, Melonport AG handed over the maintenance and governance of the Melon protocol to the Melon council. And further on: "The Melon Council is a DAO that governs the protocol and is responsible for its future maintenance. All decisions made by the Melon Council are consultable in real time on the Melon Council aragonOS interface . The Melon Council DAO operations are powered by aragonOS. A customized Aragon DAO for the Melon Council was deployed and is able to natively interact with the Melon protocol. In practice, the Melon Council is responsible for the following: * Protocol upgrades * Resource allocation * Networks parameters The Melon Council (MC) is comprised of the MTC (Melon Technical Council) and of the MEB (Melon Exposed Businesses) representatives. Melon Technical Council (MTC) The MTC is the subset of the Melon Council that is responsible for providing technical expertise in various domains, and help the network make informed decisions. The initial MTC members were appointed by the former Melonport team, and from there, new MTC members can be voted in by the Melon Council. Melon Exposed Businesses (MEB) Representatives The Melon governance model is also a user-centric model. It provides users with the ability to be represented, voice their needs and to take part in the decision-making process of the network. Users of the network that can prove a certain % of AUM on the network have MEB rights, and can elect the MEB representatives who will sit on the Council and represent users. Current members Janos Berghorn; Investor @ KR1 Matthew Di Ferrante; Founder @ ZK Labs & Security at Ethereum Foundation Fabian Gompf; VP @ Parity Technologies Will Harborne; CEO @ DeversiFi Martin Lundfall; Formal Verification Researcher @ Ethereum Foundation & DappHub Nick Munoz-McDonald; Smart Contract Auditor & Researcher @ G0 Group Zahreddine Touag; Co-Founder & Head of Trading @ Woorton Jenna Zenk; CTO @ Avantgarde Finance" * More can be read about there governance over here. Team, etc. * There are currently (2-2020) two independent teams working on Melon or building things on top of Melon; * Midas Technology; "is a Swiss-based company that works on the development of Ash. Ash is an investment mobile app for retail investors that gamifies investing, built on the Melon protocol. The Ash team made the first ever Melon Funding Proposal (MFP #1) , that was reviewed and accepted by the Melon Council in April 2019." * Avantgarde Finance; "The Avantgarde Finance team (former Melonport team) proposed MFP #2 , which was accepted by the Melon Council in September 2019. With a 3 years roadmap, Avantgarde Finance plans to address the existing painpoints for the Melon ecosystem, while making sure Melon stays ahead of the curve. Avantgarde Finance provides cutting-edge blockchain-based professional financial tools. The Avantgarde vision is to create a better everyday experience for aspiring asset managers and their investors by giving them easy access to a new financial infrastructure using Melon and other supporting DeFi technologies." * Mona El Isa, CEO, “Former star-trader at Goldman Sachs, promoted to Vice President by the age of 26 and made the “top 30 under 30” list in Trader Magazine in 2008 and Forbes Magazine in 2011 after profitably trading the 2008 and 2011 crashes. Moved to Geneva-based macro fund Jabre Capital in 2011, before deciding in 2014 that the future of finance lay in blockchain technology. She studied Economics & Statistics at the University College London.” * Trinkler, Reto; Chairman/CTO, “Blockchain developer with background in mathematics from ETH Zurich. He started developing Ethereum smart contracts immediately after their launch in 2015. He worked as a smart-contract developer at Brainbot Technologies (which is building the high-speed Raiden Network) and is host of Zurich's Blockchain Hacklab. Before this Reto developed a profitable trading algorithm for sport betting exchanges in C++.” * Hallam, George; Head of Business Development, “George joined Ethereum as Business & Partnership Director in Mid 2014. He quickly established himself as a key communicator, moving to the role of Head of External Relations where he successfully advocated the Ethereum platform to the world and coordinated the Ethereum Foundation’s yearly developer conferences in London and Shanghai. During his 2 years at the Ethereum Foundation, George grew a strong appreciation and understanding of the Ethereum community and the ecosystem it inhabits.” * Gavin, Wood; Technical Advisor * Jehan Chu; Strategic Advisor * Nick Munoz-McDonald (Melon Technical Council) Partners * Partners with Parity, ValidityLabs, MME * Is client at Solidified * Is a 'friend' of Polkadot Category:Coins/Tokens